The largest resource conference in the world, PDAC, rapped up a 4 day conference yesterday, March 7.
Over 25,000 attendees and around 500 resource companies presented their stories and opportunity to investors/
According to Glenn Mullan, President of PDAC, in a tweet, tells us that upwards of $70M is injected into the Toronto economy every year due to PDAC.
Attendance at the #PDAC2018 Convention totaled 25,606—a clear sign that the mineral exploration + mining industry has regained its swagger and is building momentum.
Even with all of those impressive statistics, the resource markets just went back to sleep and have continued to decline.
Difficult to believe that with over 25,000 attendees that no one got home and said to themselves, “I’ve got to own shares in that one”.
I follow hundreds of companies and I can’t find any of them that their shares went up during or after the conference. All that money that the companies spend to be there and nothing to show for it.
Actually I saw some of those companies that their shares did not even trade during the conference.
Seems most resource investors don’t give a damn, at least not yet.
What is going on?
The real issue is the current price of gold and silver. Until gold breaks firmly above $1400, this resource sector is going nowhere. The market is trapped in a zone which investors just don’t care.
Look at this simple chart of gold and you will see why most investors don’t care.
HOWEVER, the truth is that savvy investors are buying and accumulating shares at these low levels.
The newsletter writers probably know this ‘game’ better than anyone, but they too know that until we see higher for gold (and silver) this will still be a depressed market by many standards.
I am probably one of the more optimistic investors/newsletter writers as I see substantially higher prices soon. I continue to accumulate shares and/or stock warrants in what I believe to be some of the big winners in the next 24 to 36 months.
Patience, which most investors no longer have, is the issue.. Accumulate shares now and pick the fruit in the next couple of years. Many of those shares, if you invest wisely, will be up by 1,000% or more. I realize to many of you that sounds crazy, but that is the game that I am playing.
Have fun and enjoy the ride to riches.